Phoenix Luxury Homes
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Home | $800~$2M | $2M~$4M | $4M~$6M | $6M+ | Condos~THs | Open House | Market Report | Office Listings | Sellers | ~ Select Cities ~ Cave Creek | Paradise Valley | Phoenix | Scottsdale | Neighborhoods
Welcome to Phoenix Luxury Homes where we hope you enjoy your time here. Your Search Results will appear below showing the “Newest Listings” first. We can also provide Live Video Previews for your favorite Luxury Homes! 🙂
(Phoenix Luxury Homes)
Our Median Sales Price in August was $1,057,500, up 3.7% from $1,020,000 in August of 2019 and up 6.3% from $995,000 last month. The average sales price in August was $1,393,423, up 14.5% from $1,216,501 in August of 2019 and up 11.8% from $1,246,558 last month. August 2020 ASP was at highest level compared to August of 2019 and 2018. (more market report below photos)
We can currently see (335) Luxury Homes available today in Phoenix. (inventory is falling)
Phoenix Luxury Homes ~ Newest Listings
Phoenix Luxury Homes ~ Monthly Market Report
(for Phoenix Luxury Homes) Our August property sales were 66, up from 53 in August of 2019 and -34.7% lower than the 101 sales last month. August 2020 sales were at their highest level compared to August of 2019 and 2018. August YTD sales of 473 are running 19.4% ahead of last year’s year-to-date sales of 396.
(for Phoenix Luxury Homes) The total inventory of properties available for sale as of August was 317, up 8.9% from 291 last month and up 5.0% from 302 in August of last year. August 2020 Inventory was at highest level compared to August of 2019 and 2018.
The average Days On Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a buyer’s market, a downward trend a move towards more of a seller’s market. The DOM for August was 107, up from 75 days last month and up from 90 days in August of last year. The August 2020 DOM was at its highest level compared with August of 2019 and 2018.
Selling Price / Square Foot
The selling price per square foot is a great indicator for the direction of property values. Since median sales price and average sales price can be impacted by the ‘mix’ of high or low end properties in the market, the selling price per square foot is a more normalized indicator on the direction of property values. The August 2020 selling price per square foot of $368 was up 12.2% from $328 last month and up 20.3% from $306 in August of last year.
Selling Price vs Listing Price
The selling price vs listing price reveals the average amount that sellers are agreeing to come down from their list price. The lower the ratio is below 100% the more of a buyer’s market exists, a ratio at or above 100% indicates more of a seller’s market. The August 2020 selling price vs list price of 93.3% was down from 94.1% last month and up from 92.5% in August of last year.
Whether you’re thinking about buying or selling, you can contact us directly to discuss your local market. We’d love to be your trusted real estate adviser if you’re looking to make a change this year. Please feel free to contact us with any questions, as we will be happy to hear from you – Thanks!! (480)208-7955 ~ Our Office is located here, and you can also see us at Paradise Valley Homes 🙂